The primary issue that hotels and dining places are confronted with is a continuous and expensive battle with their competitors. This problem – that actually is brought on by the resorts and dining places them selves – along with its solution I will briefly and in an easily easy to understand way address in the framework of this article.
Blaming challenging market conditions because of strong competitors for frustrating earnings and earnings is easy and may sound good. Nevertheless, checking out this more carefully and placing it bluntly it actually is a clear show of incompetence by these managers who needs to be making efforts to solving the issue of not a lot better than their competitors!
In other words, saying ‘We usually are not creating greater earnings (if any) because we are facing strong competition’ indicates ‘We usually are not good enough to get better than our competitors’. Why else would they be continuously complaining about rivals and spend lots of time and cash in competitive analyses wishing (mostly in vain) to discover something that could give them a definitive competitive advantage over their competitors? This leaves us with the question why these companies are for …Continue Reading